THE SHARE MARKET

Evening Star, Issue 21722, 17 May 1934, Page 7

THE SHARE MARKET

DUNEDIN STOCK EXCHANGE No business was effected at the call over this morning, but two transactions were reported off the call. The most notable development on the market was the increased interest in Government loans, buyers offering as much as £lO6 5s for the 4,per cent, issues, and a seller in one caso asking £IOB. Amongst banking stocks New Zealand* weakened to sellers at yesterday s buying bid, and buyers at 51s 3d. Standard Insurances were inclined to harden, and Nationals and New Zealand continued to have uusupplied buyers. Slight improvement was shown by Wright, Stephensons, and buyers offered more for Southland Frozen Meats, following a sale at 665. Dominion Fertilisers were steady on the announcement of the company’s intention to pay a 3 per cent, dividend. New Zealand Drugs had a better demand, as did New Zealand Paper Mills. ... Alexander Gold Mines had a buyer at 14s, the first quotation for some months, and other issues which showed alteration were:—Bell-Hoopers, which weakened a little, Gillespies, which had a better buyer, and Golden Points, which showed a revival of interest. Four sellers of Government loans appeared this morning at prices which failed to attract buyers. SALES. Reported.—Southland Frozen Meat (paid), £3 6s; Golden Point, 4d (late yesterday).

DIVIDENDS DU*. Dilgety and Co.—lnterim, 5 p.c. per annum ... May 17 S.Z. Paper Mills—4 p.c., making 7 p.c. per annum May 21 Donaghy’s Rope—Final, Is 3d share May 21 Wright, Stephenson—Final, 3 p.c. on ord. shares Mat 23 Bank of N.S.W.—Quarterly, 5s ... May 30 National Bank Australasia—halfyearly, final, 5 p.c. per annum Mav 30 Farmers’ Trading—Final, pref.. 7 p.c. per annum (less 20 p.c.) May 31 Henry Jones—lnterim. 6d a shave June 1 Dominion Fertiliser—Final, 7 l-scl shave, 3 p.c June 2 Wilson’s Cement —Final, 6d per shave .lime 6 Broken Hill South—ls 6d a share. payable in Melbourne ... ... June 15 Bank of N.Z.— final, 5 per cent., making 10 p.c. for the year June 15 THE SEARCH FOR GOLD EULOLO RETURN Mr Fred G. Dunn, attorney for Clutha Development Ltd., advises that lie has received the following Bu.'olo production report for April:—For the month of -April tho total gross production for dredges Nos. .1, 2. and 3 amounted to 9.813 ounces of bullion containing 6,605 ounces of fine gold from 612,700 cubic yards. The estimated working profit is 4,280 ounces of fine gold. The above production is equivalent to £56,142 10s, and working profit to £36,380 on the basis of £B.los (Aust.) per fine ounce of gold. WORKSOP EXTENDED COMPANY The contractors building the dredge for the Worksop Extended Dredging Company reported on Monday that tho engine was being assembled, and that it was hoped to have a trial run on Saturday next. TALISMAN DUBBO RETURN i Last week's return from the Talisman Dublin mine was £378 actual realisation from 38} lons, crushed. QUARTZ MINERS’ STRIKE SECRET BALLOT REJECTED. Workers at the Alexander mine, who are employed by the Inaugahua Miners’ Union have decided against the employers’ proposals, submitted at a sitting of the Conciliation Court, that a secret ballot be guaranteed on terms not yet disclosed. A similar decision has . also been reached by the employees of the Blackwater mine (Waiuta). The voting at Waiuta was 196 against and eight, for. A 'proposal that' Mr M. Eagan,. M.L.C., . be invited to mediate, was carried by 163 votes to 43. . . AUSTRALIAN PRICE The price fixed by the Commonwealth Bank for gold, including old jewellery, lodged at the Mint from April 30 to May 4 inclusive; was £B"'Ss Id a ' line ounce, an increase of 7}d over the price for the previous week. BELL-HOMER REPORT The following is .'the report of Beli- ■ Hooper Cromwell : Gold Ltd,, for tho week ended May H:— No. 1 Tunnel Workings; Work in this section has proceeded smoothly for the period. Block N has now been blocked out. The north-western section of block T has also nearly been mined except for a four-foot strip against the main drive. The last pane! of block L has now been started on. When these two last pieces are taken out. that length of the main drive will be abandoned as there will be no need to maintain it. An improvement of the gold values in the south-western section of block T is evident at present as the workings approach the main drive. No. 3 North Drive off No. 1 ■ Main Drive: The face of this drive is now past the, end of No. 3 stbpe drive east. Values have been low with occasion! patches giving fair samples. This drive is now being turned to head direct for the intersection ot No. 2 cross drive and the northern portion of No. 3 north drive which is already completed. Block CL A small amount of blocking ollt ; >nd a prospecting drive through the block are being carried out as the placing of the men in other faces permits. No. 2 Tunnel: The face of the west cross drive Iroin the tunnel has boon advanced to 174}ft, the advance for tho week being 24}ft. Tho wash has been visible in . the top of the drive for the last 10ft. At 153 ft the grade of the drive was raised so as to bring the wash lower in T'or the future. The present taee shows sonic largo boulders. General: Only part time was worked on the washing plant at No, 2 tunnel'. A start has boon made with the sluiceboxes. The pipe fittings for the pump are now' to. hand.

METAL MARKET Press Association-By Telegraph— Copyrig lit LONDON. May 15. ihe following arc the official metal quotations;— Copper.—Standard. £3 i Ids lOid per ton ; forward, £33 3s l id. Electrolytic.—Spot, £36 ' per ton; forward, £36 10s. ’ Wire bars, £36 10j. per ton. . Lead.—Spot, ■ £lO 16a 3d per ton; forward, £ll 3s 9d. Spelter.— Spot, £l-1 10s per ton : forward, £l4 16s 3d. fin.—Spot, £232 12s 6d per ton ; forward, £228 17s 6d.. Pig Iron.—Home trade, £3 7s 6d per ton; export, £3 2s 6d. Antimony.—British, £42 lOs [>er ton; foreign, £27 Ids. Silver.—Standard, 19 o-16cl per or.; fine, 20 13-16 d. Molybdenite, £1 16a per unit; Wolfram, £2 Is 3d per unit, DAIRY PRODUCE Ihc Xational Mortgage and Agency Company has received the following cable from London;—Butter; Market firm at 7?s. Cheese: Market firm: white 4.55, coloured 445. The New Zealand Loan and Mercantile Agency Company Ltd. has received Ibe following cabled advice from its London bouse, dated the 16tb inst. butter, 76s /7s. Cheese: White, 445, 455; coloured; 44a; market steady.

AUSTRALIAN STOCK EXCHANGES Press Association—By Telegraph—Copyright. SYDNEY. May 16. The Stock Exchange is becoming quiet, which is to be expected at this time of the year, approaching the balancing period, as well as the absence of specific influences calculated to excite the market. The sagging wool prices also had an 'effect, buyers showing less disposition to enter fresh commitments. Later sales were:—Bank of New South Wales, £32 ss; .National Bank (£5 paid). £6 10s; Colonial Sugar, £64 15s; Howard Smith, Its Gd ; Associated News (pref.), 24s (id; British Tobacco, 37s 7fcl; Tooth’s, -15 s; Dunlop I’erdriau. 24s 6d; Wiuchcombe, Carson, 28s 6d; Wilcox. Ylofflin, 13s 3d; Electrolytic Zinc, 26s 3d; Anthony Hordern, 16s 3d; Lustre Hosiery, 23s 3d; Standard Cement, 17s 6d ; Goodlet and Smith, . 23s . Gd; Australian Iron and Steel (pref.), 22s 10|d; John -M ‘Gratb,. 295; Broken Hill Proprietary (ex. tin:.), ,46s ,9d ; Rawang, 9s 2d; Larut, 15s 6d; Placer Development, £24 MELBOURNE, May 16. Howard Smith, 14s 6d; National Bank (£5 paid), £6 10s; Australian Paper .(pref-),. 375; North Broken Hill, 93s 6d; Mount Lyoll, 235. ADDINGTON STOCK SALE Normal entries were forward at the Addington market yesterday, except in the fat cattle section, which was oversupplied. Store Sheep.—There was an uneven sale of lambs with a tendency to linn. There was a particularly keen sale of ewes, old ewes in cases being 3s to 4s a head better than last week. A line of. 1,000 station wethers sold at from 18s lid to 225; medium ewe lambs, ISs to 19s 3d; ordinary, 16s to 17s lOd; inferior, 13s to 15s; medium wether lambs, 15s 3d to 16s lid; medium m.s., 15s to 16s; ordinary, 13s to 14s 9d;. inferior, 9s 9d to 12s 6d ; medium six and eight-tooth half-bred ewes, to 12s 6d ; plain six and eight-tooth halfbred, 14s 2d to 16s 9d; medium four and six-tooth Romney, to 235; medium six and eight-tooth Romney, 19s 6d to 20s 4d; ordinary six and eight-tooth Romney, 16s 6d to 18s 6d; plain six and eight-tooth Romney, 14s to 16s; ordinary s.m., 15s 6d to 17s; full and failing-mouth, 13s to 14s 9d; inferior and aged, 7s 3d to 12s 6d; forward four and six-tooth half-bred wethers. 20s to 225; medium four and six-tooth half-bred wethers, 17s to 19s 9d. Fat-Lambs.—A yarding of 3,000 was entered, and a good sale at late rates resulted. Extra prime heavy lambs sold to 28s 7d ; prime, 24s 6d to 275; prime medium, 21s 6d to 2-1 s; light, 16s to 21s. Fat Sheep.—There was a slightly smaller yarding,. with an advance of from Is to Is 6d in values. Extra prime heavy wethers sold to 29s 4d; prime heavy, 25s 6d to 275; prime medium-weights. 22s 6d to 255; ordinary quality, 19s to 225; light,' 15s to 18s; prime ewes, to 22s lOd; medium-weight prime. 19s Gd to 21s; light and ordinary, 12s to 19s. Fat' Cattle.—A total of 700 was entered, am! a dragging sale resulted, with values down by 10s a head. Extra good young beef made to 23s' per 1001 b; prime .from 19s to 225; heavy, 16s to 17s; secondary, 13s to 16s; and inferior and rough, down to ]2s. Extra prime .heavy steers made to £ll 7s 6d; medium heavy, £7 .to £8 15s; medium-weight prime, £6 to £7 ss; ordinary, £4 to £5 10s; light, to £3 15s; extra prime heifers, to £7 17s 6d; prime,. £4 5s to £6 10s; ordinary, £2 15s to £3 los; light, to £2 10s; extra prime cows, to £7 12s 6d; prime, £3 10s to £5 12s Gel; ordinary, £2 5s to £3 :■ rough, and aged, to £2. . Store Cattle;--There was a small entry of indifferent class. Well-bred two and three-year-old steers sold at £5 4s 6d. Eat Pigs.—-There was a slightly better demand for baeoners, but porkers were unchanged. A few pigs were bought for export. Choppers made Horn £2 to £1 6s; baeoners, 45s 6d to 55s 6d; heavy baeoners, £2 19s 6(1 to £3 9s 6d ; average price per lb, 4Jd to 5(1: porkers, 25s to 30s 6d; heavy porkers, 32s 6d to 35s 6d; average price per lb, 4Jd to sd. Store Pigs.—There was a heavy entry and an casing in prices. Wcauers sold at from 5s to 7s 6d; slips, 7s to 9s; stores, 9s to 16s; extra good, to 20s. DOLLAR AND FRANC Press Association—By Telegraph—Copyright. LONDON, May 16. (Received May 17, at 10.30 a.m.) I’be dollar is quoted at 5.11 3-S and the franc at 77 5-16. PRICE OF GOLD LONDON. May 16. (Received May J 7, at 10 a.m.) Fine gold is quoted at £6 16s per ox.

Quotations ai under Buyers. Seller*. £ s. d. £ t. d. RANKING— Bank 01 Australasia 12 8 0 Bank of N.S.AV. - 33 5 0 Bank of N.Z. ... . 2 11 3 2 12 0 Bank of. N.Z. (Lone “D’V 14 6* — Commercial Bank - 0 17 1 National Bank of New Zealand ... . . 4 0 S 4 0 6 INSURANCE— National Insnr. Co. -0 19 6 — N.Z. Insurance Co. A 0 0 — Standard Insnr. Co . 3 1 0 3 3 3 SHIPPINGHoward Smith 0 14 0 — Huddari. Parker Ipref.) ' 1. s 0 — IJ.S.S. Co; (pref. i 1 5 6 COALWestport Coal Co. .. 0 15 9 — Westport-Stock ton 0 (ord.; . . ... .. 0 2 LOAN AND AGENCY — Goldsbrougb. Mort .. 1.13 0 National Mortgage .. -- 0 3 4 6 N.Z. Guarantee Corp 0 4 — Wright, Stephenson (ord.).- • — ■ 0.19 Wright. Stephenson (prof.) ■ 1 0 6 MEAT PRESERVINGN.Z Refrigerating (paid) N.Z. Refrigerating 0 18 0 — (cent.) ... ■... 0 8 6 — Southland Frozen Meat (paid) 3 5 6 3 6 6 Southland Frozen Mer t (pref.) ' ... 3 b 6 — Waitaki Farmers’ ■ Freezing ... 2 7 6 — MISCELLANEOUS— Associated Nows — 1 5 6 Brown. Ewing (ord.) — 1 0 0 ■ Bruce Woollen.; Com L(prot.i. ... ■. i 0 6 0 Crystal Ice Co. ... ... i 15 fl 2 0 D.I.C (pref.) ... ... i 9 0 — Dominion Fertiliser. 0 17 6 0 18 0 Dominion Fertiliser Debentures 102 0 0 — Dominion Rubber — 1 S 6 Dunedui-Kaikorai Trams 1 14 0 — Dunlop Pcrdriau Rubber 0 18 3 — Kaiapoi Woollen 0 (ord.) ... ... .. 0 9 6 0 10 Kaiapoi Woollen (pre’f.) ..: 0 17 9 0 19 0 Milburn Ljme and Cement ... 1 11 6 — Mosgiel Woollen Co. 9 15 0. — Mount Lycll ... ;.. N.Z. Drug Co — 1 3 6 3 16 0 — N.Z. Newspapers 1 9 0 — N.Z. Paper Mills ... 1 10 3 1 11 0 ’ Otago Daily Times 2 6 0 -r~ . Regent Theatre 0 18 6 1 0 6 Smith and Smith (pref.) 0 17 0 BREWERIESN.Z. Breweries 2 2 0 2 2 3 Staples’ Brewery Timaru Brewery (10» 1 7 0 — paid) 0 7 6 — OIL— Moturoa (ord.) ... ... — 0 4 o GOLD MINING— Alexander ... 0 14 0 — Adtearoa — 0 0 8 Bell-Hooper ' 0 0 8 0 0 9 Bell-Kilgour — 0 0 44 Bendigo Goldliglit ... — 0 0 8 Blackwater 1 12 0 — Charleston ... ... ... — 0 1 7 Gillespie’)! ■ ... • 0 1 10 0 2 0 Golden Point ... 0 0 4 — Golden Progres* Kildaiv. 0 ■ 111 0 0 1 2 6 5 King Solomon — 0 4 3 Lawson’s Flat ’ 0 0 3 ■ Maevevpheriua ... ... — 0 0 11 Mahakipawa 0 0 10 0 1 0 Mataki — 0 0 6 Moonlight-Nelson ■ Creek 0 n 7 - — Nevis Diesel, 0 0 4 0 0 M New . Cornish Point -(paid). -- 0 1 0 Nokomai ■ 0 3 3 0 3 6 Okarito — 0 8 6 Oaenbridge ... 0 0 11 — Paddy's Point' ' — •o 3 0 Skippers ... ... ' ... 0 0 9* 0 0 LI Waitahu ... — 0 4 n Weiherstonc ... .... — 0 3 0 K.J. GOVERNMENT I^OANS— (Benda Quoted are £100 Bondi.) ii p.e, Stock. 19381943 ... ... 104 0 0 — Jf Stock, 1930104 0 0 X p.c. Stoek, IMl1943 ... 104 O' 0 — 3j p.c. Stork, 19331952 103 0 0 M p.c. Stock. 19391952 ... ... 103 0 0 ii p.«. Stock, 19411952 103 0 0 4 p.c. Bonds. Jan 15, 1940 ... ... 104 0 0 106 10 0 4 p.c. Stock, Jan. IS, 1940 ... 104 0 0 105 10 0 4 p.c. Bonds, Feb 15, 1946 ... 104 0 0 4 p.c. Stock, Feb. 14, 1346 104 0 0 4 p.c. Bonds, April IS, 1949 104 0 0 106 10 0 4 p.c. Stock, April 15, 1949 104 0 n 4 p.c. Bonds. June 15, 1955 106 5 0 108 0 0 4 p.c Stock. Jane 15. 1955 106 5 0 Unlisted Stocks— , Worksop Extended ... 0 1 10 Otago Farmers — 0 5 0 * Odd parcel.